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TD Cowen analyst Bryan Bergin raised the firm’s price target on ADP (ADP) to $290 from $285 and keeps a Hold rating on the shares as part of a Q4 preview for the human capital management space. Recent share outperformance across most of the sector and some instances of consensus estimates being at risk “yield a fairly high bar for this earnings season, leading us to favor the cleanest setups,” the analyst tells investors in a research note. TD’s most favorable on the Q4 setup for Paylocity (PCTY) and most cautious on the setup for TriNet (TNET).
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